Over the next decade, Australian grain growers will benefit from a $600 million increase in "blue-sky" strategic research and capacity building with the Grains Research and Development Corporation (GRDC) earmarking $60 million per year to deliver once-in-a-lifetime transformational changes for the industry.
It comes as GRDC has released the findings of an expert, independent review, showing the organisation was well placed to increase its research, development and extension (RD&E) investment to deliver greater returns and unlock new breakthroughs for growers.
GRDC, one of 15 research and development corporations in Australia, currently invests $245 million per year into RD&E to drive productivity, profitability and sustainability gains on-farm.
Acknowledging the corporation's strong financial position - due to grower-led innovation and resilience, supported by long-term RD&E investment - GRDC commissioned economic advisory firm ACIL Allen to explore the optimum or 'right-size' investment to continue to deliver cutting-edge outcomes to growers.
This review, which commenced with industry support late last year, has identified an opportunity for GRDC to boost its yearly investment without compromising long-term financial stability or RD&E impact.
GRDC Chair and South Australian grain grower Sharon Starick said the review built on the findings of the organisation's five-year strategic plan, which also found growers' appetite for "blue sky" research was high, as was the need to grow vital research capacity for the sector.
The review identified $60 million a year as the sweet spot - a level that balances affordability, system capacity and return for growers. It creates space for more strategic research, the kind of ambitious, higher-risk work needed to reach new frontiers and deliver the next wave of breakthroughs for Australian growers, Mrs Starick said.
"The review also recommended an increased focus on investing in talent to build research capacity to ensure Australia can keep delivering the innovation growers need to stay competitive into the next decade.
"Our current portfolio is underpinned by our 2023-28 RD&E plan which was informed by extensive consultation and engagement with growers, so we know it is fit for purpose.
"ACIL Allen found - like much research and development in Australia - GRDC is underinvested in strategic, early-stage science with just eight per cent of our investments in this space. So, this increase will effectively allow us to lift investment in this key space, in addition to maintaining our current RD&E aligned investments."
Mrs Starick said a key priority would be future proofing the research system by backing the people and partnerships needed to turn ideas into impact.
We need to give researchers the time, support and certainty to take on big, complex problems over seven to 10 years - not just short project cycles. That means more flexible investment, longer term partnerships and clearer career pathways, so research can happen when and where it's needed with the right people in place to deliver it.
"We know that GRDC's RD&E investments currently deliver between $6 and $9 return for every dollar invested. The ACIL Allen review has identified additional investment could deliver even greater impact for industry if we focus on select major issues facing our sector."
The investment level recommended through this review would see GRDC's total annual RD&E investment rise from a forecast of around $275 million to $335 million by 2028-29.
Mrs Starick said GRDC had already begun engaging with grower groups, representative organisations, research providers and the broader industry to share the findings and shape investment priorities.
This is a once-in-a-generation opportunity to reinvest in ways that are progressive, prudent and grower-led. Our purpose hasn't changed - we're here to invest in RD&E that delivers enduring profitability for Australian grain growers, she said.
A summary of the Right Size RD&E Expenditure Review, along with a fact sheet and a short video from the report authors, is available on the GRDC website
